The Persian Gulf War has been known as one of America’s most decisive wars. Iraq was crippled badly, but not entirely. American military morale was restored to levels not seen since before the Vietnam War and geopolitical politics are shaped differently from this point forward. First, the Persian Gulf War was the most significant geopolitical event between the demise of the Soviet Union and the September 11th, 2001 attacks.it was at this time that the US began a massive air war that aimed at destroying Iraq’s civil infrastructure, military and its forces. As an afterthought, Iraq required the psychological militant assault against the coalition and launces Scud rockets at Israel. Such an endeavour proved to be unsuccessful as aimed at widens in the war and break up the coalition that had been build. However, the primary coalition powers attacked Kuwait and South Iraq for a couple of four consecutive days. Distinctive component redesigns were stripped of a conviction structure and essential whereupon to base their social awes and basically missed the information on ground. Vote based structure and the degrees of progress made the world to attain vitality especially in the last decade as general economies have ben opening up in different parts of the globe. In Latin America, measures of fascisms dropped from fourteen to four mostly in the last decade as the superpower battles obscured all the activities. Again, the Western promoters widened the weights on autocrat relationship of all stripes to change and share power. Moreover, this has two results: First, there is less resistance of peasant rulers. What was once pushed as key calm mindedness altogether open to the harsh parts War is immediately looked on with scorn. Human rights abuse is less proceeded through and gross shocking conduct of a relationship against its subjects is inclined to be totally reproached. Secondly, with the lower level of resistance there has been a separating growth in the West’s availability to make a move to help the setbacks.
Iraq was especially important to the United States and to the rest of the world due to its high production of oil. However, the two countries were subjected to various forms of risks that threaten their operations and their environment. In this regard, they have to come up with ways and means of allocating and managing such risks so that their negative impact is not felt. In the context of the oil and gas industry, risks are uncertainties that takes place that threaten the operations of the oil and gas industry. The risk in the oil and gas industry is the potential of losing the overall investment needed in the oil and gas industry . In this regard, these risks can potentially result in physical, social, emotional, and financial loss that may negatively impact the whole project. This paper discusses several ways in which both the host country and the companies manage the allocation of risks in oil and gas business.